Correct, but this causes 2 issues:
1) it makes the clubs beholden to the AFL, which they like but the supporters and clubs hate. However, this could be an issue as the fans are only interested in the clubs, not the AFL, so they screw the clubs at their peril.
2) you lose the die hard fans if you don't cater to those who attend. This can have a knock on effect as they don't encourage their kids interest. Also, one of the strengths of Australian Football has been high attendances (see NRL as a comparison) and losing this strength might be ok in the short term, which is all the AFL care about, but in the medium to long term this is a risk. Australian Rules Football is a one country sport, this is a risk they would be wise to avoid, but the AFL and wisdom do not go together.
DS